Intelligent Apartment technology has become one of the most desirable upgrades for apartment operators because it improves resident satisfaction and your bottom line. A dramatic shift in multifamily amenities is taking place. No longer are properties focused mostly on workout rooms, hot tubs, and pools. Forward-thinking property owners are looking more to intelligent apartment technology to stay competitive and create additional revenue streams.
Today’s apartment renters want automation that make their life easier, more secure, and more convenient. It’s what they are used to. More and more are wearing various automated technology on their wrist – something that now easily translates to their rental home experience.
Multifamily owners leverage smart technology to improve these five aspects of property health:
- Resident satisfaction
- Asset protection
- Improved energy management
- Controlled access of apartment units and buildings
- Increase occupancies and renter retention
Apartment property owners should consider the following when choosing a smart technology platform:
Software and Hardware Integrations
What Property Management Software (PMS) is your company currently using? A cloud-based PMS solution will benefit your property today and in the future. Cloud PMS providers such as ResMan, RealPage, and Yardi allow you to manage all aspects of your property from one platform.
Smart technology integration can now deliver a bonus on top of that: Automated service request alerts to address HVAC water leaks discovered through smart technology monitoring. This early detection can easily save tens of thousands of dollars.
Property managers also notice improved operational efficiencies with smart access technology used to automate the resident move-in/move-out process. Openpath, for example, is a smart access solution that makes entry to buildings, common areas and amenities a breeze. All you need is your smartphone and a simple touch of the mounted reader that detects your credentials and gives you access.
Multifamily Industry Experience
During the past five years, the number of smart technology provider options has increased dramatically. Most stem from technology companies that offer single-family smart home solutions and are now looking to enter the multifamily space. To find a supplier who truly understands multifamily rental housing, it is important to make sure you deal with a smart technology company that has extensive knowledge in the this sector.
Consider looking to veteran multifamily providers that offers a holistic approach – and one that does not require expensive dedicated IoT infrastructure. An all-in-one intelligent apartment program should include software-as-a-service (SaaS), hardware, retrofit or new construction installation capabilitiy, and white glove support and training.
It is important that the turnkey solution works right out of the box and can provide net operationing income on day one.
CAT M1 Connectivity
Connectivity should be near the top of your “smart property must-have list.” The strength of its connection to IoT devices such as resident smart door locks is paramount. That’s where CAT M1 connectivity comes in.
CAT M1 is a low-power wide area (LPWAN) cellular technology that was built specifically for IoT projects. It greatly reduces the need to regularly swap the batteries on the hundreds of IoT-connected sensors that spread across a property. No one needs that tedious task. Leading-edge smart apartment platform by iApartments uses CAT M1 technology in its Hub Thermostat.
Operational Benefits of Smart Lock Access
With smart locks, residents are able to open door remotely or with an access code by simply using their smartphone via the property management portal system.
Smart Locks also allow property site-teams to save precious time by not having to go back and forth to retrieve keys to access units. This convenience can also be extended to painters, carpet installation vendors and other contractors, who can be given temporary access while running turn work in the apartment. This frees up office and maintenance managers so they can focus on their residents and increasing occupancy.
2Bayshore Apartment Community, in Tampa FL, saved 618 site team hours per year by implementing a keyless apartment system. A significant amount of time was also saved during site fire inspections. By assigning temporary access codes to the fire department, inspections for 367 apartment homes were completed in half the time.